On July 24, XUNCE declined 5.86% in regular trading, trading at HKD 131.3/share, with turnover of HKD 476 million. The pullback came after a period of aggressive gains driven by the company's strategic partnership announcement.
The stock had surged over 45% cumulatively across two trading days starting July 20, following the announcement on July 19 that XUNCE signed a strategic cooperation memorandum with Qingdao Xinchen Kechuang, the parent company of Hongtai Capital, which manages over RMB 30 billion in assets across more than 300 portfolio companies. The partnership marks the first systematic, large-scale deployment of XUNCE's TokenOS platform into the private equity investment sector, covering use cases in investment research, post-investment management, and AI empowerment for portfolio companies. On July 23, the stock rose as much as 9% intraday before today's reversal.
The sharp short-term rally intensified profit-taking pressure. Since hitting a historical high of HKD 382.8 in April, the stock had previously experienced a cumulative drawdown exceeding 70%, reflecting ongoing market divergence over high valuation versus earnings delivery.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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